Now, with this strategic move, we’re confident we will become the strongest co-op of independent pharmacies in the nation.
Phoenix, AZ (Vocus) February 23, 2009
Today, two of the nation’s most successful independent pharmacy co-operatives have announced a plan to merge their organizations.
Associated Pharmacies, Inc. (API) of Scottsboro, AL and United Drugs in Phoenix, AZ have put plans in place to combine into a single corporate entity with a joint membership of more than 2,000 independent pharmacies. The United Drugs and API merger establishes a truly independent force in retail pharmacy.
“This merger has many benefits, but only one goal: the success of our members,” said Jon Copeland, R.Ph. and Chief Executive Officer of API. “Not only will our members own the entire operation, but we will be working for them on both the purchasing and the selling side of their pharmacies making them truly independent. No other group can offer its members that kind of profitable flexibility.”
United Drugs CEO Bruce Semingson, R.Ph. added, “That’s one reason why this has to be the most compatible merger in the industry. API is known for running one of the nation’s most successful cooperative-owned warehouse operations and United Drugs has one of the strongest Managed Care programs out there.”
Contributing to the synergies of the proposed merger is the fact that both co-operatives are customers of Cardinal Health, a $91 billion global health care company ranked No. 19 on the Fortune 500. Executives from both API and United are initiating member educational meetings, outlining the structure and timeline of the new organization. Upon member approval, the merger is expected to close in late 2nd quarter 2009.
“Both our companies have long histories of providing a wide array of services and programs as well as being vocal advocates for independent pharmacies,” Copeland said. “Now, with this strategic move, we’re confident we will become the strongest co-op of independent pharmacies in the nation.”
About Associated Pharmacies, Inc. (API):
Founded in 1987, Associated Pharmacies, Incorporated (API), is a member-owned buying cooperative that provides independent pharmacy owners an opportunity to buy like a chain. API members take advantage of savings on brand, generic, and OTC products at discounted, volume prices. As a unified voice in an ever-changing environment, API designs and implements programs to give its pharmacies the tools needed to run a successful business.
About United Drugs:
United Drugs is a premier pharmacy cooperative that provides industry leadership, operating expertise, third party contracting and buying services to independently-owned pharmacies throughout the nation. United Drugs has over 1,000 pharmacy members and is growing. For over 30 years, United Drugs has been helping independent pharmacies not only compete but also thrive in a dynamic, challenging marketplace.
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